ADB shows strong confidence in Pakistan’s economy

May 17, 2024 (MLN): The Asian Development Bank (ADB) has expressed confidence in Pakistan's economic trajectory and reaffirmed its commitment to support the country’s development and cooperation.

According to a press release issued on Thursday, the Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb was called on by Alternate Executive Directors (AED) of ADB at Finance Division today to discuss the ongoing and future cooperation between Pakistan and the ADB.

The Finance Minister highlighted the improvement in Pakistan's macroeconomic conditions.

The Federal Minister also emphasized the need for broadening the tax base and digitalization of the country's tax regime.

In this regard he mentioned that the services of Mckinsey & Company have been engaged to assist the initiative of digitalization of FBR which will not only enhance revenue but will also add to the transparency of the tax collection system.

Furthermore, the Finance Minister underscored the commitment of this government for SOE reforms and privatization agenda.

The ADB delegation praised Pakistan's efforts to promote economic stability through proactive measures.

The Federal Minister, Senator Muhammad Aurangzeb expressed gratitude to the ADB delegation for their visit and continued support towards Pakistan's economic revival and development efforts.

Finally, he acknowledged the ADB team's assistance in various initiatives being undertaken by the Ministry of Finance.

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